All Forum Posts by: Jack Hatton

Hello, I've found a property in a B- neighborhood for 55,000$ 1 bedroom 1 Bath. Rent in the area goes for 1100-1250$ a month. So I target 1150$ for rent. So now assuming I get it this is how I've broken down the rent 200$ Mortgage 400$ Tax 230$ Capx 115$ Vac 205$ Cashflow Now am I taking out to much for Capx and the money I set aside for Vacancy can I withdraw some of that money when I have a vacancy or just continue to save it. Is there anything I've missed?

How did you get your early start? I'm seeming to find it hard to get a mortgage at a young age and lower income but with a better down payment I'm hoping that will get me a mortgage.

I was looking into the multi family's that need a decent bit of work and live in it for a while and after a year or so Refinance and buy another property such as the BRRR stratagey. Still looking around won't get serious until the fall when I'll have a good down payment. Seems to be a hot area after talking with some realators.

Have you looked in other areas, such as Patchogue. There are a couple of homes in the area that need work, I was wondering if you have looked into any of those.